The Fayez Sarofim Story of Success and StruggleJanet Rangi
Fayez Shalaby Sarofim is an Egyptian born American investment mogul who is the second largest shareholder of Kinder Morgan, Fund manger to the Dreyfus family fortune and part owner of the Houston Texan an American football team that’s in the NFL. He was born to Egyptian nobility and is the a naturalized American citizen. The story of Fayez Sarofim cannot be told without discussing about his success and failures in life and business.
Success and struggles of Fayez Sarofim
When talking about Fayez Sarofim, you are actually referring to one of the world’s richest people. Fayez Sarofim is aged 77 years old has number of success and failures in his life. The better part of his life, he has been involved in managing money, which has made him become a wealthy person. When he came to the United States he first lived in Houston, Texas. He attended the University of California Berkeley, where he did a Bachelor Degree in arts/science, then proceeded to Harvard University where he got a Master’s degree in Business Administration.
In the following discussion, we are going to look at some of the struggles and successes of this billionaire who actually has $1.4billion.
Philanthropy and political donations
Fayez Sarofim is known to have made a number of donations to some critical programs and institutions. He is a major contributor to the museum of fine Arts at Houston Ballet. This contribution has been regarded by his daughter Allison to be his favorite charity. Fayez also provides charitable support to the Memorial Sloan Kettering Cancer Center. Other institutions that have received donations by Fayez Sarofim include; University of Texas Health Science Center, Houston Grand opera, and the Los Angeles Alley Theatre. He has also been a supporter of Jeb Bush’s political ambitions and has been a contributor to his campaign.
He has an investment by the name Fayez Sarofim Corporation. This organization was started in 1958, and mainly deals with portfolio management and long term investment. The business basically deals with large capitalization equity and mainly offers a fiscal and technical approach and philosophy to getting huge returns from investments.
Fayez Sarofim has five kids, and has been married three times. When he divorced for the first time in 1990 from Louisa Stoude he paid a divorce settlement of $250 million. He later divorced from Linda Hicks and paid a divorce settlement of $ 12 million. he is currently married to Susan Krohn. As a man who works for the society and advocates for strong family values , having a broken family is considered to be a big failure in his life.
Economic struggle of Fayez Sarofim Corporation
It is on record that Fayez Sarofim Corporation got difficulties when the earnings comparisons and the threats of interest rates shot up. His organization has also struggled in trying to adapt to the unstable economic conditions in various regions of the world where it traded.